Actuarial science info sheet

ACTUARIAL SCIENCE

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The Dordt Difference If you enjoy mathematics and its applications to real world problems, especially those in finance, you might consider becoming an actuary. Actuarial science is an interdisciplinary field that helps companies manage financial risk through mathematical and statistical modeling, an important skill in an increasingly data-driven world economy. Dordt’s distinctively Reformed, comprehensive education provides the context for an academically rigorous major or minor that will prepare you for a career as an actuary.

Our program goes beyond merely training in moral and ethical behavior to exploring what a Christian approach might look like when it comes to risk management, modeling chance events, and using data-driven decision-making procedures. Dordt students leave the actuarial science program with an integrated Reformed worldview and strong technical skills that put them in a position to give national and global leadership in actuarial science.

CAREER OPPORTUNITIES Traditionally, actuaries have worked in the insurance and pension management fields. Today they also are working as employees or consultants in other financial risk management areas such as: • private corporations

• government

• colleges and universities

• banks and investment firms

• public accounting firms

• labor unions

• rating bureaus

• fraternal organizations

Actuarial jobs consistently rank high on lists of top professions because of the positive hiring outlook, good pay, job security, and relatively low workplace stress. Many students find that one of the most appealing things about a career as an actuary is that upon completion of an undergraduate program in actuarial science they can immediately enter the workforce.

Training continues, but no graduate school is required.

ALUMNI SPOTLIGHT Nathan Schelhaas (’97), a fellow in the Society of Actuaries, works at Principal Financial Group in Des Moines, Iowa. He says, “So many people are gifted in math but aren’t sure how to use their skills in a vocation.

This program will give them an avenue.

“As a practitioner of the actuarial profession, I can’t help but look back to my time at Dordt and think of the many benefits this program would have offered, not the least of which would be to answer the pesky but frequent question, ‘So what are you going to do with that fancy math degree?’ The actuarial science major adds to an already strong mathematics program at Dordt, giving existing students another focus for their talents and helping attract bright new students.”

THE PROGRAM Most students entering Dordt with a strong interest in actuarial science will likely choose to be actuarial science majors, though a minor is also an option.

• The actuarial science major consists of a variety of courses in mathematics, statistics, finance, interest theory, probability, actuarial modeling, communication, and computer programming. The courses required for the major will put you on track to pass at least two actuarial certification exams, if not more, before graduation. Doing so will put you in an excellent position to enter the workforce immediately upon graduation. By enrolling in the major, you will have earned all of the possible Validation by Educational Experience (VEE) credits possible at the undergraduate level.

• The actuarial science minor is a good option for students who decide later in their college career to pursue actuarial science or who wish to pursue actuarial science along with another major. The minor in actuarial science requires fewer courses but will still put you in a strong position to enter the workforce as an actuary upon graduation.

OVERVIEW As an actuarial science major, you’ll take courses in mathematics, statistics, and finance. Many of Dordt’s courses are certified by the Society of Actuaries, which means that by successfully completing these courses, you can place out of some of the exams you’ll be required to pass to become a fully certified actuary. You’ll also find these courses to be very helpful as you prepare for certification exams you will need to take down the road.

In Dordt’s actuarial program, you’ll be strongly encouraged to job shadow and to participate in internships in the actuarial field. Our network of alumni and friends helps us place actuarial students in competitive internships.

THE FACULTY Sharon Rosenboom, M.S., Florida State University. Introductory statistics and college algebra; research interests in the conceptions of preservice teachers and effective practices in STEM education.

Sharon.Rosenboom@dordt.edu Nathan Tintle, Ph.D., State University of New York at Stony Brook. Statistics courses; research interests are statistical genetics and statistics education, with most research done collaboratively with undergraduate students.

Nathan.Tintle@dordt.edu John Visser, Ph.D., University of Alabama. Finance, international business, international teaching, and research on the impact of religious beliefs on business and economic practices. Banking and import/export experience.

John.Visser@dordt.edu Valorie Zonnefeld, Ed.D., University of South Dakota. Introductory and intermediate courses in mathematics; research interests in Valorie.Zonnefeld@dordt.edu mathematics education and the integration of faith in the math classroom.

June 2014